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Gain audit rights in the UK

Audit is a regulated area in the UK, and membership of the ICAEW will not automatically grant you the right to audit in the UK.

Below are details of what AICPA, CICPA, CIMA, CIPFA, CPA Australia, HKICPA, ICAB, ICAP, CA Sri Lanka, ICAZ, MICPA, NZICA and SAICA members need to do in order to gain audit rights in the UK.

The UK regulator has not approved these bodies as meeting the qualification requirements for audit eligibility in the UK. Members of these bodies will therefore need to re-qualify with the ICAEW.

How to gain audit rights in the UK

In order to gain audit rights in the UK, individuals joining the ICAEW will need to:

The Audit Qualification (AQ)

The Audit Qualification is:

  • A statutory status needed by and applied for by a member 
  • It is issued by the ICAEW under delegated powers from the UK Companies Act 
  • When combined with a practising certificate it allows a member to then apply for audit rights - ie the ability to sign a statutory audit report

To gain the Audit Qualification you will be required to:

  • Sit and pass additional ICAEW examinations
  • Undertake a further 2 to 3 years of practical training which meets the requirements of the Companies Act 2006

Examinations

The following exams are mandatory for all applicants:

  • Case Study
  • Technical Integration - Business Reporting
  • Technical Integration - Business Change
  • Principles of Tax
  • Law

You may also be required to sit further exams depending on your home body membership. Please call +44 (0)1908 248 250 for further information.

Practical training / experience

  • 1. During the combined periods of approved training and post-qualification work experience, a minimum of 3 years’ general training and work experience within an authorised training environment. At least 2 of the 3 years must have been completed within a firm of registered auditors; and
  • 2. During the combined periods of approved training and post-qualification work experience, completed a minimum of 240 days’ audit work experience within an ICAEW Authorised Training Employer which is also a firm of Registered Auditors.
  • 3. Of this 240 days’ work experience, at least 120 days must be in statutory company audit work as defined in the Companies Act 2006, and the rest must be in either statutory audit work or other audit work similar to statutory audit work, where the nature of such work conforms to the definitions agreed by the ICAEW and the Professional Oversight Board.
  • 4. The audit work must have been supervised by an individual eligible to sign UK audit reports and must have been obtained in an ICAEW Authorised Training Employer.

Find out how to apply

Audit Qualification (AQ).

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These requirements are set by the Companies Act and regulated by the Professional Oversight Board.

Further information

For further information please contact our enquiry team on +44 (0)1908 248 250.